Wolf Haldenstein Announces Investigation Of Venoco, Inc.
Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Venoco, Inc. (“Venoco” or the “Company”) (NYSE:VQ) arising out of the proposed “going private” acquisition of Venoco by Timothy M. Marquez, the company’s Chairman and CEO (“Marquez”). Marquez currently owns approximately 50.3% of Venoco’s outstanding common stock.
On Monday, August 29, 2011, Venoco announced that Marquez will acquire Venoco pursuant to an all cash offer. Under the terms of the agreement, Venoco stockholders will receive cash of $12.50 in exchange for each share of Venoco common stock. However, the Company may not have adequately shopped itself before entering into this transaction and, pursuant to this proposed transaction, Marquez may be underpaying for Venoco, thus unlawfully harming Venoco shareholders.
Wolf Haldenstein has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in U.S. federal and state courts. Please visit the Wolf Haldenstein website ( http://www.whafh.com) for more information about the firm.
If you own Venoco common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:Martin Restituyo or Derek BehnkeWolf Haldenstein Adler Freeman & Herz LLP270 Madison AvenueNew York, New York 10016Phone Numbers: (800) 575-0735(212) 545-4600 Email: firstname.lastname@example.org Classmember@whafh.com Website: http://www.whafh.com Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
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